U.S. Sens. Al Franken, D-Minn., and Jon Tester, D-Mont., have introduced legislation that would promote the local production of wind energy by providing tax credits to more community wind projects across the country.
The Community Wind Act would expand the existing small-wind investment tax credit (ITC) to projects with a capacity of up to 20 MW. Currently, a 30% ITC is available for wind turbines with a nameplate capacity of up to 100 kW. The new legislation amends the credit by expanding it to projects with total capacity of no more than 20 MW and making no restriction on the size of any individual turbine.
‘Locally owned wind projects are an important part of our nation's energy future, and they're a great investment for rural communities in Minnesota, because their profits go right back to farmers and members of rural communities,’ says Franken. ‘Unfortunately, these projects often have difficulty getting financing. This legislation would make it easier for community wind projects to get up and running, and help communities all over Minnesota and all over the country invest in the future.’